|
|
Advertisements:
EconomyEconomy - overview
The island nation has been able to attract foreign business and investment, especially in its offshore banking and tourism industries, with a surge in foreign direct investment in 2006, attributed to the construction of several tourism projects. Although crops such as bananas, mangos, and avocados continue to be grown for export, tourism provides Saint Lucia's main source of income and the industry is the island's biggest employer. Tourism is the main source of foreign exchange, although tourism sector revenues declined with the global economic downturn as US and European travel dropped in 2009. The manufacturing sector is the most diverse in the Eastern Caribbean area, and the government is trying to revitalize the banana industry, although recent hurricanes have caused exports to contract. Saint Lucia is vulnerable to a variety of external shocks including volatile tourism receipts, natural disasters, and dependence on foreign oil. High public debt and high debt servicing obligations constrain the ANTHONY administration's ability to respond to adverse external shocks. Economic fundamentals remain solid, even though unemployment needs to be reduced. Gdp (purchasing power parity) World Ranking: 188
$2.128 billion (2011 est.)
$2.123 billion (2010 est.) $2.052 billion (2009 est.) Note Data are in 2011 US dollars Gdp (official exchange rate)
$1.239 billion (2011 est.)
Gdp - real growth rate World Ranking: 193
0.2% (2011 est.)
3.4% (2010 est.) -1.3% (2009 est.) Gdp - per capita (ppp) World Ranking: 95
$12,800 (2011 est.)
$12,800 (2010 est.) $12,500 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 4.1%
Industry 18.4% Services 77.5% (2011 est.) Labor force World Ranking: 184
79,700 (2012)
Labor force - by occupation
Agriculture 21.7%
Industry 24.7% Services 53.6% (2002 est.) Unemployment rate World Ranking: 162
20% (2003 est.)
Population below poverty line
NA%
Household income or consumption by percentage share
Lowest 10% NA%
Highest 10% NA% Budget
Revenues $185.2 million
Expenditures $222.2 million (2011 est.) Taxes and other revenues World Ranking: 194
14.9% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 98
-3% of GDP (2011 est.)
Inflation rate (consumer prices) World Ranking: 39
2.6% (2011 est.)
0.6% (2010 est.) Central bank discount rate World Ranking: 53
6.5% (31 December 2010 est.)
6.5% (31 December 2009 est.) Commercial bank prime lending rate World Ranking: 82
10.2% (31 December 2011 est.)
10.625% (31 December 2010 est.) Stock of narrow money World Ranking: 173
$311.1 million (31 December 2011 est.) $238.7 million (31 December 2010 est.) Stock of broad money World Ranking: 164
$1.149 billion (31 December 2011 est.) $1.349 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 141
$1.65 billion (31 December 2011 est.) $1.676 billion (31 December 2010 est.) Agriculture - products
Bananas, coconuts, vegetables, citrus, root crops, cocoa Industries
Tourism; clothing, assembly of electronic components, beverages, corrugated cardboard boxes, lime processing, coconut processing Industrial production growth rate
NA%
Electricity - production World Ranking: 161
341.2 million kWh (2009 est.)
Electricity - consumption World Ranking: 168
308 million kWh (2008 est.)
Electricity - exports
0 kWh (2009 est.)
Electricity - imports
0 kWh (2009 est.)
Oil - production World Ranking: 130
0 bbl/day (2010 est.)
Oil - consumption World Ranking: 177
3,000 bbl/day (2010 est.)
Oil - exports World Ranking: 192
0 bbl/day (2009 est.)
Oil - imports World Ranking: 172
2,692 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 183
0 bbl (1 January 2011 est.)
Natural gas - production World Ranking: 117
0 cu m (2009 est.)
Natural gas - consumption World Ranking: 123
0 cu m (2009 est.)
Natural gas - exports World Ranking: 168
0 cu m (2009 est.)
Natural gas - imports World Ranking: 118
0 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 119
0 cu m (1 January 2011 est.)
Current account balance World Ranking: 84
-$220.4 million (2011 est.)
-$174.6 million (2010 est.) Exports World Ranking: 184
$198.6 million (2011 est.)
$238.9 million (2010 est.) Exports - commodities
Bananas 41%, clothing, cocoa, avacados, mangoes, coconut oil Exports - partners
Colombia 21%, US 14.9%, Peru 8.5%, Antigua and Barbuda 8.1%, Dominica 7.9%, Barbados 7.1%, Trinidad and Tobago 6.6%, UK 5.6%, Grenada 5.4% (2011) Imports World Ranking: 187
$545.9 million (2011 est.)
$574.8 million (2010 est.) Imports - commodities
Food 23%, manufactured goods 21%, machinery and transportation equipment 19%, chemicals, fuels Imports - partners
Brazil 78.8%, US 8.4%, Trinidad and Tobago 5.1% (2011) Debt - external World Ranking: 172
$470.4 million (31 December 2011 est.) $464 million (31 December 2010 est.) Exchange rates
East Caribbean dollars (XCD) per US dollar - 2.7 (2011 est.)2.7 (2010 est.) 2.7 (2009) Fiscal year
1 April - 31 March
Comments
Add a new comment: |
Advertisement
Members area
Saint Lucia (Castries):
 
GPS points from Saint Lucia (Castries)
|
||||||||
The island, with its fine natural harbor at Castries, was contested between England and France throughout the 17th and early 18th centuries (changing possession 14 times); it was finally ceded to the UK in 1814. Even after the abolition of slavery on its plantations in 1834, Saint Lucia remained an agricultural island, dedicated to producing tropical commodity crops. Self-government was granted in 1967 and independence in 1979.